S&P And Fitch Warn About Cutting Hungary’s Credit Rating To Junk

Hungary May Be Pushed to Junk Grade This Month on S&P Move (Bloomberg, Nov. 12, 2011):

Hungary’s sovereign credit grade may be cut to junk this month after Standard & Poor’s Ratings Services placed the country’s lowest investment grade on “CreditWatch with negative implications.”

S&P is likely to make a decision this month on Hungary’s credit grade, currently at BBB-, the rating company said in a statement today. Fitch Ratings yesterday cut the outlook on Hungary’s lowest investment grade to negative from stable, joining S&P and Moody’s Investors Service.

Fitch cuts rating outlook on Hungary to negative – Country one step closer to junk grade (Portfolio.HU, Nov. 12, 2011):

Hungary is now the closest possible to junk grade at Fitch Ratings as the credit rating agency has revised the Outlooks on the country’s Long-term foreign and local currency Issuer Default Ratings (IDR) to Negative from Stable and affirmed the ratings at ‘BBB-‘ and ‘BBB’, respectively. Hungary is now a single step away from non-investment status with a negative outlook at all three major rating agencies (Fitch, S&P and Moody’s).

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